Eastern Municipal Water District
California

Action/Info Item
3712

Financial Operating and Capital Highlights Through the First Quarter of Fiscal Year 2019-20

Information

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Category:Action/Info ItemMeeting Workflows:Board Admin Committee Workflow

Background

We are pleased to present the financial operating and capital highlights for the first quarter of Fiscal Year 2019-20, period ending September 30, 2019.  Some notable highlights include:

 

·         Overall consolidated enterprise results was mixed versus budget:

 

o       Consolidated Enterprise operating revenue was under budget by 4.3 percent, with total operating expenses below budget by 5.3 percent.

o       Non-operating revenues exceeded budget by $7.6 million primarily due to a higher number of new water and sewer connections, as further detailed herein.

o       Net Operating Margin exceeded budget by $14.2 million.

 

·         Water system revenue was above target:

 

o       Domestic water sales were 2,030 acre-feet (AF) or 6.5 percent below budget.

o       Total water revenues were $45.4 million, which was $4.6 million or 9.1 percent below budget. 

o       Operating costs were $40.3 million, which was $1.7 million or 4.1 percent below budget.

o       Net operating revenue to fund capital commitments was $5.1 million, which was $2.9 million below budget. 

 

·         Wastewater system net operating revenue was above target:

 

o       Revenues were $26.4 million, which was $0.9 million or 3.6 percent above budget.

o       Operating expenses were $15.0 million, which was $1.5 million or 8.8 percent below budget.

o       Net operating revenue to fund capital commitments was $11.3 million, which was $2.4 million above budget.

 

·         Recycled system net operating revenue was above target:

 

o       Revenues were $3.8 million, which was 6.6 percent above budget.  The District sold 12,652 acre-feet of recycled water, which was 2,543 acre-feet, or 16.7 percent below budget.

o       Operating expenses were $1.8 million which was 3.7 percent below budget.

o       Net operating revenue to fund capital commitments was $2.0 million, which was $0.3 million above budget.

 

·         Connection fees for 2,105 EDU/EMS through the first quarter were lower than the 2,877 EDU/EMS from the same time period last year, and were above the budgeted connection fee revenues by $6.3 million or 53.4 percent.

 

Attached for the Boards review is a staff report (Exhibit A) providing data and analysis of the Districts financial and capital position through the first quarter of Fiscal Year 2019-20. The report includes a consolidated enterprise summary, an operating services summary, and a summary of capital expenditures for the first quarter of Fiscal Year 2019-20.  Attached is the presentation of the operating and financial highlights.

 

Financial/Strat Plan/Enviro

FINANCIAL IMPACT:

As noted herein

 

STRATEGIC PLANNING GOAL/OBJECTIVE:

Ensure financial stability and demonstrate responsible stewardship of public funds.

 

ENVIRONMENTAL IMPACT:

None

Recommendation

Receive and file

Meeting History

Dec 9, 2019 7:30 AM  Board Administrative Committee Regular Meeting
draft Draft
RESULT:REVIEWED AT COMMITTEE
Dec 11, 2019 9:00 AM  Board of Directors Regular Meeting
draft Draft

Mr. Turner provided a presentation on this item